The Real Deal Miami

Moishe Mana picks up corner property in downtown Miami

Moishe Mana just picked up another piece of downtown Miami real estate to add to his assemblage, and is under contract to purchase two more for $40 million, according to a spokesperson.

Mana’s Jersey Art Holdings LLC paid $3.5 million, or about $440 per square foot, for the 8,000-square-foot corner lot at 100 South Miami Avenue, about one block north of the entrance to I-95.

Donald J. Robinson, Zada Lee Robinson and Hume M. Robinson sold the two-story, nearly 11,000-square-foot building to Mana. Colliers International South Florida’s Mika Mattingly, who has brokered nearly all of Mana’s deals downtown, represented the buyer and seller, the spokesperson said.

Mana, who is also working on developing his portfolio of land in Wynwood, has been buying properties on and near Flagler Street in downtown Miami for more than four years, spending nearly $300 million in the process. In May, Mana paid $12.9 million for a two-story building at 201 East Flagler Street.

The building he just acquired was built in 1949. He’s planning to redevelop his downtown Miami assemblage into retail, office and residential.

Other investors have also swooped in, including Stambul. A few weeks ago, the company, led by Daniel Peña, paid $19.75 million for the former Walgreens building at 200 East Flagler Street, most recently home to La Epoca department store. Stambul is also restoring the Old United States Post Office and Courthouse nearby at 100 Northeast First Avenue, and redeveloped the Langford Hotel.